S.Korean Firms Hope For Resumption Of Inter-Korean Business Ties Soon - Reports

South Korean firms expressed hope that business ties between the two Koreas suspended over Pyongyang's nuclear threats would resume soon following the meeting of the two countries' leaders, local media reported on Thursday.

MOSCOW (UrduPoint News / Sputnik - 20th September, 2018) South Korean firms expressed hope that business ties between the two Koreas suspended over Pyongyang's nuclear threats would resume soon following the meeting of the two countries' leaders, local media reported on Thursday.

Shin Han-yong, representing South Korean companies with production facilities in North Korea's Kaesong, expressed hope that local Kaesong Industrial Complex business would begin operating "within this year given the atmosphere of the summit," according to Yonhap news agency.

In turn, head of the Kaesong Industrial Complex Companies Association said that the resumption of inter-Korean business ties would depend on a possible meeting between North Korean and US leaders.

On its part, Hyundai Group vowed to spearhead the cross-border ties revival despite existing challenges.

"Hyundai Group, as a pioneer and leader, will make an aggressive effort to revive inter-Korean economic cooperation despite ups and downs on the Korean Peninsula," Hyundai chairwoman Hyun Jeong-eun said in a statement as quoted by Yonhap.

Hyun also went to the summit, being part of the delegation of South Korean President Moon Jae-in.

Moon's trip to Pyongyang marked the third meeting between the South Korean president and North Korean leader Kim Jong Un. During their recent talks, Kim committed to the demolition of a North Korean missile engine test site. The two sides also reached various military agreements, including ending artillery exercises and flights near the demilitarized zone between the two countries.